Vakrangee declines on profit taking

Vakrangee fell 2.55% to Rs 141.55 at 12:20 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 134.22 points or 0.47% at 28,425.40.

On BSE, so far 1.34 lakh shares were traded in the counter as against average daily volume of 3.82 lakh shares in the past one quarter.

The stock hit a high of Rs 145.75 and a low of Rs 141 so far during the day. The stock had hit a 52-week low of Rs 78.80 on 20 December 2013. The stock had hit a record high of Rs 154 on Monday, 1 December 2014.

The stock had outperformed the market over the past one month till 1 December 2014, surging 14.28% compared with Sensex's 2.49% rise. The scrip had also outperformed the market in past one quarter, advancing 16.39% as against Sensex's 6.3% rise.

The mid-cap company has equity capital of Rs 50.35 crore. Face value per share is Re 1.

Shares of Vakrangee had rallied 12.33% in three trading sessions to settle at Rs 145.25 on Monday, 1 December 2014, from a recent low of Rs 129.30 on 26 November 2014.

Vakrangee during market hours on Monday, 1 December 2014 said that its board of directors will meet on 4 December 2014, to consider applying for the license for the payments bank in the capacity of corporate business correspondent.

On consolidated basis, Vakrangee's net profit rose 5.09% to Rs 80.07 crore on 2.5% growth in net sales to Rs 698.28 crore in Q2 September 2014 over Q1 June 2014.

Incorporated in 1990, Vakrangee is a prominent system integrator and end-to-end technology intensive service provider by bringing together all hardware, software, networking, data center as well as on-ground skilled resources for various Mission Mode Projects with high national significance under National e-Governance Plan of India. Vakrangee has partnered with nationalized banks, private banks, central government and state governments for successfully implementing these flagship projects that benefits every Indian.

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